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Online music education is applying technology for the purpose of teaching or learning music through different online platforms. These online music lessons can be done using an app, online courses, watching pre-recorded videos online, or lessons can be done by live video conferencing.
Globally, the Online Music education market is expected to reach US$ 421.9 million by the end of the year 2027. The North America online music education market held the major share of 34.3% in the global marketplace in the recent times. The regional market growth is supported by increasing adoption of smart devices among individuals coupled with increased government funding on the education sector. These factors combinedly encourages companies to develop online music learning platforms for students, thereby strengthening the market growth across the region. Whereas Asia Pacific online music education market is estimated to grow at the fastest CAGR of 19.6% during the forecast period. China, India, Japan, South Korea, and the Rest of Asia-Pacific countries have undergone the most inclusive transformation and digitalization in the education industry.
Impact of COVID-19 on the Online Music Education Market
During the outbreak of Covid-19, the education sector have undergone with some major changes which include rapid adoption of smart and online learning. Global online music education market is expected to witness a growth of 15.5% Y-o-Y in the year 2020 as compared to the lower rate of 13.8% in the year 2019. The pandemic opened some lucrative opportunities related to integration of IT companies with education sector. Companies dealing in the e-learning software and services in developed economies, such as the US, UK, Germany, and others, witnessed a significant upturn due to the effective demand on account of increased digitalization in the education industry.
What drives the Global Online Music Education Market?
Where does opportunities lie in the market?
Smart technologies such as augmented reality and artificial intelligence are some major contributors for the online music education market to grow.
Competitors in the market
The online music education market has low competition in the global marketplace. CR5 ratio shows that five major companies are holding around 44.4% of the global market share. Players such as The Juilliard School, MusicGurus and Berklee College of Music offers a wide variety of online courses and constantly aims to enhance student experience. Some of the major players in the global online music education market are Lessonface, Moosiko, MusicGurus, AAFT School, VIP Peilian, Skoove, Lessonface, Point Blank, Tonara, Yousician, Coursera, Musitechnic, Udemy, TrueFire and TakeLessons.
Market Segmentation Overview
The online music education market is segmented into type, instrument type, session type, organiser type, learner type and region.
Schools are the largest organiser of online music education with a market share of 39.8%. The increasing investments in the digitalization of education by schools has significantly increased the growth of the segment. Additionally, government investment in schools for the adoption of smart techs and e-Learning solutions will further escalates the market growth. This market share is closely followed by Music Academy/ studios with market value at US$ 48.4 million in the year 2020.
By Instrument Type
By Session Type
By Organiser Type
By Learner Type
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